Excerpts:
DS: Though it is little tough to comment on a country like Bangladesh, with a 2-day visit, we would like to know, what was your impression about Bangladesh before the visit and where it stands now?

SM: I arrived in Bangladesh a bit naive. I thought I was well read and knowledgeable of the country, but I learned a lot in my visit. I was under the impression that Bangladesh problems were so great, that even with all their significant accomplishments, little progress had been made towards true poverty alleviation.

All that has changed. I have discovered a very different Bangladesh, where the outlook is very bright. The spirit of entrepreneurship is everywhere, particularly among the women.

The government, NGOs and private businesses have worked together to accomplish more than many are aware of. As in many developed countries, Bangladesh will accomplish more if their political parties put their energy into supporting each other. Despite this, Bangladesh has set an example for the rest of the world in its approach to poverty alleviation.

The holistic approach of micro-finance, healthcare, education, infrastructure building and social development is unique and effective. Bangladesh has become the standard towards which other developing countries strive. One of the most impressive parts of this culture is observing how the Bangladesh community is striving to share their knowledge and experience by helping other countries. They are contributing to economic growth in Asia, the Middle East and Africa. This effort should be recognised and applauded.

DS: You are working in the advisory council of Citigroup micro entrepreneurship awards for the Philippines as well as Bangladesh and known to be a great supporter of micro-credit as a tool for eradication of poverty and women empowerment, therefore our question would be where do you see the future of micro credit and where lies the challenges for the overall success of micro-credit?

SM: The future of micro-credit is very bright. It has proven to be the most effective tool for poverty alleviation. The United Nations, private foundations, corporate foundations and governments all over the world are supporting these efforts with funding and manpower resources. I see micro-finance continuing to grow and help different sectors of the economy.

Various programmes are targeted for different socio economic groups. Not only are the ultra poor moving out of these dire situations, but also the poor are now moving on to start successful small businesses. The next challenge where we have already seen more success is for these small business enterprises to become completely self-sufficient. Thereby making room for others to follow. I think a critical component to the overall success of the programme is education on all levels including but not limited to basic financial and business practices.

DS: How do the LDCs like Bangladesh get into the next trajectory of growth given the inherent challenges?

SM: This is a very difficult question to address. I believe we need compulsory education for all children to help break the cycle. Additionally, we need to provide basic education to illiterate parents on the importance of allowing their children to go to school now to prepare for the future. We also need to continue the holistic approach that Bangladesh has modeled. We cannot have sustainable growth unless we have basic infrastructure to support it. Among many of the challenges facing the LDCs is the inability of governments to support these projects. I believe the funding and expertise need to be available to make the next step along with hospitable environments to succeed.